If, as a Manager, You Chose to Fix a Jam

question 14

Multiple Choice

If, as a manager, you chose to fix a jam in the photocopier - which could be fixed by someone else - it would be an example of:

• A) manager-imposed work.
• B) system-imposed work.
• C) discretionary work.
• D) other-imposed work.
• E) None of these responses are correct.

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Definitions:

Account Balance

The amount of money in an account, calculated by adding all debits and subtracting all credits.

Financial Statement

A written record that conveys the business activities and the financial performance of a company; main statements include balance sheet, income statement, and cash flow statement.

Temporary/Permanent

Refers to accounts within accounting practices; temporary accounts are reset each accounting period, while permanent accounts carry their ending balance into the next period.

General Journal Entries

The initial records where all financial transactions of a business are noted, using the double-entry method of accounting.